Wedbush Raises Price Target on Brunswick (BC) Following Investor Meetings

Wedbush reiterated an Outperform rating on Brunswick Corp (NYSE: BC), and raised the price target to $66.00 (from $60.00), following investor meetings. BC would benefit from potential changes in tax policy at both the corporate and individual level, while Wedbush believes certainly benefitting from any changes in confidence among its consumer base, with trade policy adjustments being at worst neutral to BC’s competitive positioning.

Analyst James Hardiman commented, "Despite the significant “Trump Bump” in the stock (up 26% since November 8 vs. +6% for S&P), management continues to deliver a consistent performance. And while there is no discernible change to the outlook, management has an optimistic eye towards any improvement in the macro-economic environment and, by extension, consumer confidence. While investors seem to have doubt with respect to the company’s longer-term earnings power, we are initiating our 2018 estimate comfortably ahead of the Street, while increasing our price target to $66."

For an analyst ratings summary and ratings history on Brunswick Corp click here. For more ratings news on Brunswick Corp click here.

Shares of Brunswick Corp closed at $54.05 yesterday.

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